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Coney Island Entertainment issues $1, 600,000 of 6% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.
Coney Island Entertainment issues $1, 600,000 of 6% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: Required: The market interest rate is 6% and the bonds issue at face amount. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors.)
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